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Condensed Consolidated Statements of Earnings (USD $)
In Millions, except Per Share data |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
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Jun. 26, 2011
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Jun. 27, 2010
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Jun. 26, 2011
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Jun. 27, 2010
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| Net Sales | ||||
| Products | $ 9,117 | $ 9,043 | $ 17,621 | $ 17,362 |
| Services | 2,434 | 2,237 | 4,563 | 4,255 |
| Total net sales | 11,551 | 11,280 | 22,184 | 21,617 |
| Cost of Sales | ||||
| Products | (8,123) | (8,050) | (15,726) | (15,503) |
| Services | (2,178) | (2,039) | (4,107) | (3,850) |
| Severance charges | (97) | (97) | ||
| Unallocated corporate costs | (256) | (149) | (555) | (326) |
| Total cost of sales | (10,654) | (10,238) | (20,485) | (19,679) |
| Gross profit | 897 | 1,042 | 1,699 | 1,938 |
| Other income, net | 87 | 73 | 137 | 115 |
| Operating Profit | 984 | 1,115 | 1,836 | 2,053 |
| Interest expense | (84) | (86) | (169) | (173) |
| Other non-operating income (expense), net | 9 | (19) | 28 | 9 |
| Earnings from continuing operations before income taxes | 909 | 1,010 | 1,695 | 1,889 |
| Income tax expense | (167) | (296) | (405) | (656) |
| Net earnings from continuing operations | 742 | 714 | 1,290 | 1,233 |
| Net earnings (loss) from discontinued operations | 110 | (18) | 124 | |
| Net Earnings | $ 742 | $ 824 | $ 1,272 | $ 1,357 |
| Basic | ||||
| Continuing operations | $ 2.16 | $ 1.94 | $ 3.73 | $ 3.33 |
| Discontinued operations | $ 0.30 | $ (0.05) | $ 0.33 | |
| Basic earnings per common share | $ 2.16 | $ 2.24 | $ 3.68 | $ 3.66 |
| Diluted | ||||
| Continuing operations | $ 2.14 | $ 1.92 | $ 3.69 | $ 3.29 |
| Discontinued operations | $ 0.30 | $ (0.05) | $ 0.33 | |
| Diluted earnings per common share | $ 2.14 | $ 2.22 | $ 3.64 | $ 3.62 |
| Cash Dividends Paid Per Common Share | $ 0.75 | $ 0.63 | $ 1.50 | $ 1.26 |
| X | ||||||||||
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- Definition
The charge against earnings in the period for known and estimated costs of termination benefits provided to current employees that are voluntarily and involuntarily terminated under a benefit arrangement associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination or a discontinued operation as defined by generally accepted accounting principles and costs associated with one-time termination benefits.
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- Definition
Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Total costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs related to services rendered by an entity during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the income or loss from continuing operations attributable to the parent which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items before deduction or consideration of the amount which may be allocable to noncontrolling interests, if any. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) derived from discontinued operations during the period, net of related tax effect, per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss derived from discontinued operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense.
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- Definition
The net result for the period of deducting operating expenses from operating revenues.
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- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations.
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- Definition
Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Aggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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